Fidelis Capital Partners LLC Increases Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Fidelis Capital Partners LLC boosted its position in shares of BlackRock, Inc. (NYSE:BLK) by 29.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,408 shares of the asset manager’s stock after acquiring an additional 318 shares during the quarter. Fidelis Capital Partners LLC’s holdings in BlackRock were worth $1,143,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BLK. Emerald Advisors LLC boosted its stake in shares of BlackRock by 2.5% in the 4th quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock valued at $851,000 after buying an additional 26 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in shares of BlackRock by 1.9% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,101 shares of the asset manager’s stock valued at $712,000 after buying an additional 21 shares during the period. McGlone Suttner Wealth Management Inc. boosted its stake in shares of BlackRock by 8.5% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock valued at $620,000 after buying an additional 60 shares during the period. Patten & Patten Inc. TN purchased a new position in shares of BlackRock in the 4th quarter valued at about $205,000. Finally, Sara Bay Financial purchased a new position in shares of BlackRock in the 4th quarter valued at about $387,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Stock Performance

BLK traded down $6.71 during trading on Thursday, hitting $747.08. 614,875 shares of the stock were exchanged, compared to its average volume of 627,263. The firm has a market capitalization of $111.27 billion, a P/E ratio of 19.33, a PEG ratio of 1.55 and a beta of 1.37. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $845.00. The stock has a fifty day moving average price of $806.88 and a two-hundred day moving average price of $755.19. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping the consensus estimate of $9.42 by $0.39. The company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a return on equity of 15.34% and a net margin of 32.26%. The firm’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.93 earnings per share. As a group, sell-side analysts predict that BlackRock, Inc. will post 41.26 earnings per share for the current year.

Insider Activity

In other news, Director Rachel Lord sold 36,059 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $818.06, for a total value of $29,498,425.54. Following the transaction, the director now owns 17,004 shares of the company’s stock, valued at $13,910,292.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Stephen Cohen sold 950 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $805.55, for a total value of $765,272.50. Following the transaction, the director now owns 4,437 shares of the company’s stock, valued at $3,574,225.35. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Rachel Lord sold 36,059 shares of BlackRock stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $818.06, for a total value of $29,498,425.54. Following the completion of the sale, the director now owns 17,004 shares in the company, valued at $13,910,292.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 100,511 shares of company stock valued at $71,864,028. Company insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BLK. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $930.00 price objective (up previously from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Morgan Stanley boosted their target price on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Monday. UBS Group boosted their target price on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. TD Cowen upgraded BlackRock from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $819.00 to $938.00 in a research note on Tuesday, January 16th. Finally, JPMorgan Chase & Co. boosted their target price on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and an average price target of $845.42.

BlackRock Company Profile

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.